Reported 2 days ago
Today's stock market opened lower as fresh inflation data raised concerns about future interest rate cuts from the Federal Reserve. Tech stocks, particularly the Nasdaq Composite, led the decline with a 0.4% drop. Despite an optimistic outlook following consumer price data, the unexpected rise in wholesale prices put pressure on investor confidence. Adobe's disappointing revenue forecast added to the negative sentiment, leading to a significant fall in its stock price.
Source: YAHOO